Pioneer Energy Services cuts revolver debt by $45 million during 2015

By Wendy Van Sickle

Columbus, Ohio, June 22 – Pioneer Energy Services Corp. has paid down its revolving credit facility by $45 million during 2015, according to a company update prepared for meetings with investors and filed Monday with the Securities and Exchange Commission.

Pioneer said it had $110 million outstanding under the revolver as of April 30. The facility matures in 2019. As previously reported, commitments under the revolver were raised to $350 million from $250 million in September 2014, with Wells Fargo Bank, NA acting as administrative agent.

Pioneer Energy is a San Antonio-based drilling services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.